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Bitcoin ETFs claw back $110M after $774M exit

Bitcoin ETFs claw back $110M after $774M exit
Cointelegraph TeamCointelegraph TeamCointelegraph

US-listed spot Bitcoin exchange-traded funds (ETFs) returned to net inflows on Monday despite weakening market sentiment and continued volatility in BTC price.

The funds attracted $110 million in net inflows on Monday, bouncing back from $774 million in withdrawals over the previous two trading sessions, according to SoSoValue.

Despite the rebound, October remained negative, with approximately $202 million in net outflows through Monday.

Chart
Flows in US spot Bitcoin ETFs since Oct. 19. Source: SoSoValue

Bitcoin traded at $79,595 at the time of publication and was down 2.6% over the past seven days, according to CoinGecko.

Market sentiment also weakened, with the Crypto Fear & Greed Index falling to 48 from 50 the previous day, while remaining in “Neutral” territory.

CryptoQuant data also showed retail investors sending more Bitcoin to Binance while large holders reduced their deposits.

Analyst Darkfost wrote on CryptoQuant that retail Bitcoin deposits to Binance nearly doubled to $10.8 billion over 30 days, while deposits from large holders fell to $3.8 billion. Darkfost suggested that smaller investors might be using the recent price rebound as an opportunity to sell.

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Cointelegraph Team

Cointelegraph Team

Cointelegraph

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